Top 10 NFT-Related Cryptocurrencies by Development Activity: Details

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: May 18 2024

ENJ-0.949%

GHST-3.659%

SAND-4.777%

Should l Buy ENJ?

Decentraland (MANA) Leads in Development Activity: MANA is the top NFT-linked token in development activity, followed by Flow (FLOW) and Metaplex (MPLX).
Return of Interest in NFTs: After a decline during the bear market, interest in NFTs and related cryptocurrencies is resurging.
Axie Infinity (AXS) Below Historical Peak: AXS remains below its peak value, indicating volatility in the NFT market despite renewed interest.
Top 5 NFT-Linked Tokens: Enjin Coin (ENJ) and The Sandbox (SAND) are among the top 5 tokens following MANA, FLOW, and MPLX.
Bottom of the List: Axie Infinity (AXS) and other NFT-related cryptocurrencies like Monavale (MONA), NFTX (NFTX), and Punk (PUNK) rank lower in development activity.

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Technical Analysis for ENJ

Technical Sentiment Analysis for Enjin Coin (ENJ) As of , Enjin Coin (ENJ) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for ENJ stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, ENJ is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Enjin Coin (ENJ) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.00849	0.0134	0.0186	0.0235	0.0286	0.0335	0.0387
Fibonacci	0.0134	0.0173	0.0196	0.0235	0.0273	0.0297	0.0335

About ENJ

Enjin is a feature-rich ecosystem that covers a wide range of blockchain software products. Enjin’s tools enable developers, businesses, and individuals to create, manage, trade, distribute, and integrate NFTs with ease. Enjin's technology is used to power digital assets by millions of users world-wide.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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